EUR/SEK Down 15 Pips in Last Hour, Moves Up For the 3rd Consecutive Day; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated July 15, 2021 2:5 GMT)

At the time of this writing, EURSEK’s rate is down -15 pips (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EURSEK End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURSEK is up 114 pips (0.11%) since yesterday (opening today near 10.20137), marking the 3rd consecutive day an increase has occurred. Compared to its peers in the Forex, EURSEK gave its buyers a return that ranked 13th in terms of percentage change since yesterday. The price chart of EURSEK below illustrates.

EURSEK

EURSEK Technical Analysis

The first thing we should note is that EURSEK is now close to its 20, 50, 100 and 200 day averages, located at 10.1592, 10.1312, 10.1469 and 10.1676 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 338.2 pips away. Volatility for EURSEK has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days EURSEK’s price has gone up 18 them.